SoftBank Sinks More Money Into Sprint

SoftBank has been snapping up shares of Sprint, increasing its stake recently by as much as $87 million. Despite SoftBank CEO Masayoshi Son's misgivings about the overall acquisition of Sprint, SoftBank said it "is enthusiastic about Sprint's prospects. The SoftBank Group and Sprint teams have been working closely together on Sprint's network strategy to enhance Sprint's competitiveness and reduce its capital expenditures and operating costs." SoftBank didn't say if it plans to continue purchasing Sprint shares. The carrier recently fell behind T-Mobile in terms of subscribers in the U.S., making it the fourth-largest carrier.